PKHIX Fees and Costs — PPM High Yield Core Fund, Institutional Class
Data updated: 2024-11-26
The net expense ratio is 0.71% (1.32% before fee waivers). There are no sales loads or redemption fees. Portfolio turnover was 66%.
PKHIX Fees and Expenses
Annual operating expenses and sales charges of PKHIX. Prospectus, as of April 30, 2024.
| Annual operating expenses | |
|---|---|
| Management fee | 0.55% |
| 12b-1 fee | 0.00% |
| Other expenses | 0.66% |
| Gross expense ratio | 1.32% |
| Fee waiver | −0.61% |
| Net expense ratio | 0.71% |
| Sales charges | |
|---|---|
| Max front load | 0.00% |
| Max deferred load | — |
| Redemption fee | — |
| Expense limitation in place (N-CEN) | Yes |
| Fees waived or reduced during the year | Yes |
| Waived fees subject to recoupment | No |
PKHIX Costs Over Time
On $10,000 invested in PKHIX, assuming 5% a year before costs, total costs come to $447 over 5 years, cutting the return by 0.75% a year. Illustration, not a forecast: it assumes today's net expense ratio throughout (a fee waiver may end).
| $10,000 invested | Sell after 1 year | Sell after 3 years | Sell after 5 years |
|---|---|---|---|
| Value before costs | $10,500 | $11,576 | $12,763 |
| Fund expenses (net expense ratio 0.71%) | $75 | $233 | $406 |
| Lost growth on money paid in costs | $0 | $12 | $41 |
| Total costs | $75 | $245 | $447 |
| Value after costs | $10,425 | $11,331 | $12,316 |
| Impact on return, per year | 0.75% | 0.75% | 0.75% |
PKHIX Trading Costs
Brokerage costs reported on SEC Form N-CEN for the fiscal year ending December 31, 2023.
- Explicit cost rate (commissions ÷ average net assets): —
- Total broker commissions: —
- Bought from dealers (principal trades, not a cost): $151.7M
- Portfolio turnover (prospectus): 66%
- Securities on loan, average value: $2.4M
- Net income from securities lending: $16K (0.036% of average net assets)
PKHIX Dealer Counterparties
Securities bought directly from dealers (principal trades).
| Broker | Amount | Share |
|---|---|---|
| State Street Corporation | $77.3M | 54.71% |
| Jefferies Group | $21.8M | 15.45% |
| J.P. Morgan Securities LLC | $8.7M | 6.15% |
| Banc of America Securities | $8.1M | 5.74% |
| Morgan Stanley & Co, Inc | $7.1M | 5.01% |
| Barclays PLC | $5.9M | 4.19% |
| Goldman Sachs & Co. LLC | $5.2M | 3.67% |
| CitiGroup Global Markets, Inc. | $3.1M | 2.18% |
| RBC Capital Markets, LLC | $2.2M | 1.57% |
| UBS Securities LLC | $1.9M | 1.33% |
For information only. Not investment advice: figures are as reported in SEC filings and may contain errors or be out of date. Past performance does not guarantee future results.